Establishment of a co-presidency in a simplified joint-stock company
Published on 8 April 2022
Frequently Asked Questions
Our SAS (Société Par Action Simplifiée ) is headed by a president. Is it possible to appoint a co-president to compensate for any impediment to it?
The law provides that a simplified joint-stock company (SAS) is represented by «a president» appointed under the conditions provided for in the articles of association. It is therefore not possible to attribute this status to several managers, the organisation of a co-presidency system being therefore excluded.
On the other hand, nothing prevents you from designating, in the articles of association, an alternate who will exercise the presidency, in the event of the death or incapacity of the president, until the end of the latter’s mandate. It is even possible to designate by name, in advance, the successor of the president in case the latter dies.
It is also possible to entrust the presidency of an SAS to a legal person.
Copyright Les Echos Publishing – 2022